Thursday, Mar 19, 08:35 GMT
EUROPEAN Trading Newsletter
To Get Started
- Webinar Videos: Low Risk Breakout Trading in Forex by Sam Seiden
- All the events of the day in our Economic Calendar
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Forex Blogs
Forex Trading Today: The Majors and Gold Surge…The Death of the Dollar? by Tim Salem
We give the Dollar a deep pummeling across the board with the FOMC Decision and Statement, the BoJ Rhetoric, better−than−expected CPI, and even with atrocious Unemployment out of the U.K…. The Queen still took off in the English Channel… severely beating the Dollar in their "Marathon Swim Meets"!…
Chartology: Follow Up to the 240 minute USD/CAD by Raghee Horner
ForexHedge: EUR/USD to the moon ! by Ron Schelling
Find other fellow traders to share your comments and market view in the FOREX CHAT
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Live Sessions Schedule
MONTHLY WEBINAR: Part 1 − Trading Forex on a Daily Basis Using Daily Charts
Expert: James Chen
Start: Thu, Mar 19, 13:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Mar 19, 13:00 GMT | MONTHLY WEBINAR: Part 1 − Trading Forex on a Daily Basis Using Daily Charts | James Chen | WBN |  |
| Thu, Mar 19, 15:00 GMT | MONTHLY WEBINAR: Part 2 − Using the Principles of Confluence to Trade Forex Effectively  | James Chen | WBN | |
| Fri, Mar 20, 09:00 GMT | Advanced APF Methods To Determine The Price Momentum | Sunil Mangwani | WBN |  |
| Fri, Mar 20, 10:00 GMT | Trading Break Out's And Other Market Views | Phil Newton | WBN |  |
Current Session: Europe
Forex: USD/JPY: Dollar drops to three−week low at 95.27
CMS Forex − USD/JPY has dropped more than 250 pips after the Fed's plan was released dropping from right above 98.00 to a bottom at 95.27, a fresh three−week low, to edge up later towards 95.66 resistance level (Mar 12 low).
The Dollar is oversold in the hourly and 4 hour chart. And the pair is trying to pick up, although lacking strength to rise above Mar 12 low at 95.66. Once above there, Mar 6 low at 96.55 would come into focus, and swinging over there, buying pressure could increase to drive the pair back towards 97.15.
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EUR/USD: Euro, above 1.3415; well overbought but upside bias looks strong by FXstreet.com
EUR/USD has soared to a fresh 9−week high reaching a maximum level at 1.3535 from right above 1.3100, to set back to levels above 1.3415 during Asian session.
GBP/USD
Daily Technical Analysis − GBP/USD: Closing above the 9−day and 26−day moving averages by Mizuho Corporate Bank
Closing above the 9−day and 26−day moving averages though still within the downward−sloping ‘wedge' as the pound trails badly because it is seen as the sickest and most vulnerable to financial turmoil.
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, i-knowindices.com, Mizuho Corporate Bank, MolFX - Management
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
EMU INDUSTRIAL PRODUCTION S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Mar 19 | 10:00 | Industrial Production s.a. (MoM) | -1.5% | -2.6% |
EMU economic indicators - EMU industrial production (January): sharp decline by BHF−Bank
Italian industrial production could have continued decreasing in January, albeit at a slightly slower pace, because the correlated climate indicators also fell less significantly, or actually improved somewhat. However, EMU industrial production is likely to have declined more sharply in January than before.
[ Full Story ]Top Market Movers Review
Australia HOUSING STARTS
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 19 | 00:30 | Housing Starts (QoQ) | -9.9% | 1.0% | -8.9% |
Australian 4Q Housing Starts −9.9% Vs 3Q (Dow Jones)
The total number of houses and apartments that started construction in Australia in the fourth quarter of 2008 fell 9.9% from the third quarter to a seasonally adjusted 32,637.
[ Full Story ]- Read the Housing Starts data at the Australian Bureau of Statistics
US FED INTEREST RATE DECISION
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Mar 18 | 18:15 | Fed Interest Rate Decision | 0.25% | 0.25% | 0.25% |
FOMC: Going all the way by Danske Bank A/S
The Federal Open Market Committee (FOMC) took yet another aggressive step at its meeting tonight by committing to purchase up to USD300bn in longer−term Treasury securities over the next six months, concentrated in the 2− to 10−year sector of the nominal Treasury curve.
- Read the official statement at the Fed
- Asian markets mixed after Fed's economic plan ; Dollar weakens across the board (FXstreet.com)
- Forex: FOMC statement hurts the Greenback (FXstreet.com)
- Brazil Real Ends Stronger, Reverses Course On Fed Statement (Dow Jones)
Market Insights - A Volatile Trading Day After Aggressive QE Plans By The FED by Oil N' Gold
Daily Market Briefing - US Dollar Plummets with Treasury Yields as Fed Announces Quantitative Easing Measures by FXCM
Morning Report - FOMC maintained rates at 0−0.25% by Westpac Institutional Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Mar 19 | 00:30 | AU | Housing Starts (QoQ) (4Q) | -9.9% | 1.0% | -8.9% |
| 00:30 | AU | New Motor Vehicle Sales (MoM) (Feb) | -3.5% | -1.1% | ||
| 00:30 | AU | New Motor Vehicle Sales (YoY) (Feb) | -18.6% | -16.9% | ||
| 07:15 | CH | Trade Balance (Feb) | 0.73B | 1.01B | 1.99B |
|
| 09:30 | UK | M4 Money Supply (MoM) (Feb)  | 1.4% | 2.5% | ||
| 09:30 | UK | M4 Money Supply (YoY) (Feb) | 17.5% | |||
| 09:30 | UK | Public Sector Net Borrowing (Feb) | £8.0B | -£3.3B | ||
| 10:00 | EMU | Industrial Production s.a. (MoM) (Jan) | -1.5% | -2.6% | ||
| 10:00 | EMU | Industrial Production w.d.a. (YoY) (Jan) | -13.4% | -12.0% | ||
| 10:00 | CH | ZEW Survey − Expectations (Mar) | -57.7 | |||